I am using TT Business 2017 for a Trust return... The Trust receives oil royalties from retained mineral rights on previously owned surface rights/ not rental real estate, etc. The Trust receives 1099-misc's for the royalty income. I see the section "Rentals and Royalties" where I entered the 1099-misc's information in to schedule E, making guesses about where to enter the various income/ expense data on the 1099-misc's.
There does not appear to be the traditional TT format for entering 1099-misc's? That would certainly be more reassuring than guessing. Any suggestions?
What income/expense items are you having difficulties with?
You are correct that the entry format for a 1099-MISC for Box 2 royalty income is a little different than a standard 1099-MISC for other income items. You will be pulling data from the 1099-MISC form and/or royalty statements that you receive to complete the section.
Enter the Royalty income in box 2 in the Royalty Income field box. Then continue to enter the expenses that you have including 15% depletion, production taxes, etc.